Zombie The Coronavirus Financial Thread (Personal, Local, National)

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EL PRESIDENTE said:
HSBC is shutting down their US operations. I am closing my account (they were gonna transfer me to Citizens Bank, an east coast institution......pass.....and moving it into my Schwab checking account. No A2M fees!
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There use to be a Citizens bank in Oregon. I had a savings account in it. It I started saving 10 cents a week thru my grade school back in the mid 50s. I used that money and some money left to me when my grandmother died to buy my first car when I got out of the Army. They were located on State St. near 'A' avenue in Oswego.
 


Can't we just raise the minimum wage, print more money or hand out more stimmys to fix this?
 
barfo said:
Make it $5.10, and the kids would never guess the original meaning.

barfo
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They've no longer said five and dime for about 60 years. The closest thing is the Dollar Store.
 
Phatguysrule said:
Absolutely. If my guy scraps 200 parts and can hide it he often times will.

Cut more material, the job gets done, the customer is happy. And we make more money on scrap.

Everybody is happy. The paperwork looks good. And lots of waste has occurred.

However, we can't sell plastic scrap. So in those cases we just throw it in the trash.

You can't even imagine how many 100k machines (sometimes $1 million machines) places buy just so they can show a loss on their taxes.

Then the machines usually sit. We have a couple machines that haven't been used since they were installed and tested several years ago.

Happens all the time.
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so far from true in the steel industry.
Yes scrap value has risen, but so has cost of steel so thst offsets.
There is no scenario my boss is content with seeing scrap go that could have been saved or not purchased.
Efficiency is the name of our game and scrapped material is not efficient.cant imagine scrapped material being efficient or owners being happy with the numbers.

I deal with those numbers on a daily basis. No one i know is happy with a large scrap percentage….
 
I have worked for the government. More than once. Never federal though.
Only state.
Never saw efficiency numbers but saw enough of the “here to collect my check” mentality, i knew it wasn't for me.
 
Orion Bailey said:
so far from true in the steel industry.
Yes scrap value has risen, but so has cost of steel so thst offsets.
There is no scenario my boss is content with seeing scrap go that could have been saved or not purchased.
Efficiency is the name of our game and scrapped material is not efficient.cant imagine scrapped material being efficient or owners being happy with the numbers.

I deal with those numbers on a daily basis. No one i know is happy with a large scrap percentage….
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I've worked in the steel industry for 20 years... This is coming from experience. If it's not counted as a scrapped part it doesn't impact the scrap percentage.

There is no efficient way to catch it if your employees want to hide it.
 
Phatguysrule said:
I've worked in the steel industry for 20 years... This is coming from experience. If it's not counted as a scrapped part it doesn't impact the scrap percentage.

There is no efficient way to catch it if your employees want to hide it.
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who is ordering the steel? You dont track what comes in vs what comes out?

we have easy ways of tracking scrap. No employee in our shop can do what you are talking about.
I question your companies model if they are incapable of tracking waste to an employee.
 
Phatguysrule said:
I've worked in the steel industry for 20 years... This is coming from experience. If it's not counted as a scrapped part it doesn't impact the scrap percentage.

There is no efficient way to catch it if your employees want to hide it.
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for more detail, i order 25 lengths @ 40’ of some W30x 247# and the job says we need 23 lengths to net the customers required footage, we know if we used 24 instead of 23 or if we were able to get it out of 22 lengths with three left over.

im not sure how your company isnt able to track scrap. But in my company thats been around since 33’ bending and fabricating steel, we track every foot of material from when it comes in to where it goes.
So im not saying your lieing at all, but if your company isnt able to track scrap, they either don't care about employee efficiency enough or don't know management skills enough to develop a tracking method. Steel, because of it largely being sold by cost per lb is very trackable. One of the easier things to track waste on.
 
Orion Bailey said:
for more detail, i order 25 lengths @ 40’ of some W30x 247# and the job says we need 23 lengths to net the customers required footage, we know if we used 24 instead of 23 or if we were able to get it out of 22 lengths with three left over.

im not sure how your company isnt able to track scrap. But in my company thats been around since 33’ bending and fabricating steel, we track every foot of material from when it comes in to where it goes.
So im not saying your lieing at all, but if your company isnt able to track scrap, they either don't care about employee efficiency enough or don't know management skills enough to develop a tracking method. Steel, because of it largely being sold by cost per lb is very trackable. One of the easier things to track waste on.
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Our parts are nearly all under 3". We could scrap $1000 worth of parts over 1ft of material.

It's literally not worth keeping track of the scrap material. What we want to track is the time on the machine. But again, as rarely as it's problem with good employees it's not worth putting much effort into tracking.
It would cost far more to institute controls than you would ever save in production.

This is where bean counters think they are making a difference but in reality are just costing money and slowing things down.

Like drug tests for food stamps. Incredibly expensive and horribly ineffective. Stepping over dollars to pick up dimes.
 
Phatguysrule said:
Our parts are nearly all under 3". We could scrap $1000 worth of parts over 1ft of material.

It's literally not worth keeping track of the scrap material. What we want to track is the time on the machine. But again, as rarely as it's problem with good employees it's not worth putting much effort into tracking.
It would cost far more to institute controls than you would ever save in production.

This is where bean counters think they are making a difference but in reality are just costing money and slowing things down.

Like drug tests for food stamps. Incredibly expensive and horribly ineffective. Stepping over dollars to pick up dimes.
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then Scrap really isn't a factor for you. However that isn't true for all. Our case in point, when a beam costs over $300 per foot, we track scrap very closely and the costs of tracking does not outweigh the costs of the loss of excessive scrap for us.
 
Orion Bailey said:
then Scrap really isn't a factor for you. However that isn't true for all. Our case in point, when a beam costs over $300 per foot, we track scrap very closely and the costs of tracking does not outweigh the costs of the loss of excessive scrap for us.
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Yep, plus steel scrap is with worth nothing to us. Stainless, aluminum, brass, and copper much more so.

But even then, the parts are worth so much more and so varied in size and shape that the scrap could vary and we may have that piece of material for a year or two before we use it. Often times it's just a remnant from another job.

There are just far too many scenarios in which making more scrap actually makes the shop more money, and faster, than waiting for the ideal scenerio...
 
EL PRESIDENTE said:
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In September, the latest month for which data exists, a staggering 3% or 4.4 million US employees quit their jobs. At the bottom of the wage-scale it’s due to a desire to avoid face-to-face contact. That should dissipate as jobs are reengineered and Covid hopefully fades. At the top end, telecommuting has permanently increased the number of viable job openings/person, this characteristic is unlikely to fade, thus elevating churn permanently.
 
So last night, $NAKD had a 15:1 reverse stock split. I have about $500 worth, but while it was processing on Robinhood it kept my 1000 shares (at .50) and put it at the split price, so I randomly was up 7 grand on that. But those idiots fixed it.
 
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